If you’re looking for the top 10 best saving apps in Nigeria, this article gives you all the basic information you want.
We know that saving consistently can be difficult sometimes.
It’s hard to do so when you’re trying to pay bills and keep up with the rising cost of living.
The good news is that several apps to save money and earn interest in Nigeria now make it easier to build healthy financial habits.
You may want to save daily, weekly, or monthly. No matter how frequently you want to save, these mobile apps that help you grow your money and earn competitive interest.
Now, here’s our roundup of the best saving apps in Nigeria.
PiggyVest
PiggyVest is still the most popular app to save money in Nigeria.
It allows users to set automatic savings, create fixed savings plans, and invest in low-risk opportunities.
There are several savings plans on PiggyVest. One of them, the SafeLock plan, pays up to 20% interest on your savings with the app.
How to Save on Piggyvest:
- Download the PiggyVest app
- Create an account
- Set a savings goal
- Use the “Autosave” or “Target Savings” feature to automate your deposits.
Opay
Opay, known for mobile payments, also has a savings feature called Owealth.
Users who save with Owealth on Opay can earn up to 15% per annum on their savings. This interest is paid out daily.
This app is ideal for people who want to save small amounts daily or weekly.
How to Save on Opay
- Open the Opay app and tap “OWealth”
- Choose your saving
- Deposit money (by bank transfer, for example
- Watch your balance grow with daily interest
It’s one of the easiest daily saving app in Nigeria for beginners.
Cowrywise
Cowrywise combines disciplined saving with investment options. It’s perfect for those who want structure and long-term term growth.
This app pays 10-17% per annum on savings.
Its unique features include automated savings plans, and the option to invest in mutual funds.
Cowrywise is one of the best apps to save money and earn interest in Nigeria. It’s great for users who want to diversify investments.
Kuda Bank
Kuda is a digital bank with a saving feature called “Spend and Save”. Every time you spend, Kuda automatically moves a certain percentage of your funds to your savings account.
The interest rate on offer from Kuda may range from 10% to 12%, depending on a number of factors.
Kuda is beginner-friendly for young Nigerians who are learning how to manage money digitally.
VBank (VFD)
VBank lets users to save with discipline and earn high returns in the process. It comes with several useful financial tools.
Accounts on VBank pay out interest ranging from 14% to 20% per annum. Fixed deposits with VFD return even higher amounts to users.
Features on the app allow you to collaborate with friends or family and reach your savings goals together.
Palmpay FlexiSave
Palmpay is a digital banking and savings platform that supports payments and other financial transactions on mobile phones.
Its FlexiSave solution consists of various flexible and fixed savings options.
These features include flexible savings, target savings for specific goals, and fixed savings for longer term goals.
Interest rates on FlexiSave savings range from 16% to 20% per annum.
Some of these plans alow you to withdraw at anytime without losing interest.
FairMoney
FairMoney is known for its loan products. But it also has a range of savings solutions that yield good returns.
The flexible savings plans on FairMoney have often paid savers up to 20% on their funds yearly.
Meanwhile, FairLock by FairMoney can earn you up to 28% interest on your savings—one of the highest rates available in Nigeria.
To learn more about FairMoney, read or article Earn 28% Interest with FairLock by FairMoney.
KongaPay
KongaPay makes it to our list of top 10 best saving app in Nigeria for two reasons:
First, it’s a well known digital platform, and it’s regulated. So it’s safe to save with them.
Secondly, they deliver attractive returns on savings—up to 24% in 12 months.
You can begin saving with KongaPay with as a little as ₦5,000.
The savings durations on this platform range from 30 days to a full year.
There’s even the option of taking out your interest early with just a small penalty; your principal remains untouched.
Moniepoint Personal App
Once focused on just businesses, Moniepoint now facilitates personal savings on a separate app.
Flexible savings on Moniepoint attract a 9% annual interest. On the other hand, locked funds and fixed savings plans can earn savers up to 16%per annum.
You can start saving on Moniepoint Personal App with as low as ₦1,000.
Renmoney
If you’re looking for an app to save money on in Nigeria—especially one from a digital bank that’s been around for a long time – you should try Renmoney.
Founded in 2012, Renmoney operates as a microfinance bank with a strong digital presence.
Besides providing loans, it also has savings and fixed deposit accounts.
Savings on Renmoney deliver interest of up to 21% to users.
Which Saving App is Best for You?
If you want a daily savings app in Nigeria, Opay and Kuda are great options.
But if you prefer long term savings, PiggyVest and Cowrywise are the go-to apps.
If you desire high interest rates, you may go for FairMoney.
Final Words
These top 10 best saving apps in Nigeria make it possible for anyone to start saving.
Whether you earn daily, weekly, or monthly, there’s a saving app for you.
Choose one that fits your lifestyle. Then set your goals, and save consistently. These apps to save money and earn interest in Nigeria will make your journey to financial stability easier.